Fmr LLC Sells 50,936 Shares of The Medicines Company (MDCO)
Fmr LLC reduced its position in shares of The Medicines Company (NASDAQ:MDCO) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,941,590 shares of the company’s stock after selling 50,936 shares during the quarter. Fmr LLC owned 14.83% of The Medicines worth $401,556,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MDCO. CIBC Asset Management Inc bought a new position in shares of The Medicines during the 2nd quarter valued at approximately $210,000. Xact Kapitalforvaltning AB grew its stake in shares of The Medicines by 28.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 10,260 shares of the company’s stock valued at $338,000 after acquiring an additional 2,300 shares during the period. Teza Capital Management LLC bought a new position in shares of The Medicines during the 1st quarter valued at approximately $342,000. PNC Financial Services Group Inc. grew its stake in shares of The Medicines by 29.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,545 shares of the company’s stock valued at $348,000 after acquiring an additional 2,398 shares during the period. Finally, Eqis Capital Management Inc. bought a new position in shares of The Medicines during the 2nd quarter valued at approximately $449,000.
In other The Medicines news, CEO Clive Meanwell sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $39.24, for a total value of $1,962,000.00. Following the completion of the transaction, the chief executive officer now directly owns 352,034 shares in the company, valued at approximately $13,813,814.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.29% of the company’s stock.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, August 1st. The company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.30. The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The business had revenue of $1.67 million during the quarter, compared to the consensus estimate of $7.20 million. During the same period in the prior year, the company posted ($0.72) EPS. The firm’s revenue for the quarter was down 84.6% compared to the same quarter last year. sell-side analysts expect that The Medicines Company will post -2.51 EPS for the current fiscal year.
A number of brokerages recently issued reports on MDCO. BidaskClub upgraded The Medicines from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Oppenheimer set a $50.00 price objective on The Medicines and gave the company a “buy” rating in a research note on Thursday, August 16th. Citigroup boosted their price objective on The Medicines from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, August 7th. Finally, ValuEngine upgraded The Medicines from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.63.
The Medicines Company Profile
The Medicines Company, a biopharmaceutical company, provides medicines to treat acute and intensive care patients. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for patients undergoing percutaneous coronary intervention in the United States.
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